In accordance with GASB 34, Basic Financial Statements—and Management’s Discussion and Analysis—for State and Local Governments, which of the following statements is(are) true regarding the statement of cash flows?
- I. The statement of cash flows is a government-wide financial statement.
- II. The statement of cash flows reports cash flows from three activities—operating, investing, and financing.
- a. I only.
- b. II only.
- c. Both I and II.
- d. Neither I nor II.